DXC Technology Announces Winners for SpringBoard Competition

News Release
-- March 08, 2018

Insurtech competition launched with leading fintech innovation hub Stone & Chalk and aimed at driving innovation in the insurance

SYDNEY, 8 March 2018 - DXC Technology (NYSE: DXC), the world’s leading independent, end-to-end IT services company, has announced the winners of a national competition to foster the growth and innovation of Australian startups in the insurance sector.

DXC Technology launched the DXC SpringBoard insurtech competition in December 2017 in collaboration with leading fintech innovation hub Stone & Chalk to leverage its expertise and ecosystem in the startup community.

DXC SpringBoard invited late-stage startups to pitch their solution to a panel of senior leaders from insurance and technology companies. The winners, who were each presented with a trophy and cash prize, were announced today at DXC’s ‘Thrive on Change’ Insurance Industry Conference in Sydney:

MAPCITE: Ian Haynes

MAPCITE developed a data enriched risk pricing, assessment and accumulations management platform that will provide brokers and underwriters with real-time map visibility into their policy accumulations, perils risk data and claims history, across their entire book of business globally.

DXC SpringBoard applicants could enter one of two categories: either an existing solution to plug into DXC Technology’s Digital Insurance as a Service (DIaaS) platform or a standalone solution for insurers with a focus on prevention, remediation and customer engagement. Of the 29 applications, the judging panel selected twelve finalists, from which two winners were selected. Applicants had the opportunity to participate in workshops consisting of technical tutorials and business guidance led by DXC Technology and Stone & Chalk.

Seelan Nayagam, managing director, DXC Technology Australia & New Zealand said, “The SpringBoard competition has been very well received, and our commitment to working with startups has left a great impression on the community. Every competition entry demonstrated the potential innovation that can be achieved in the insurance sector — a clear message that there is room to leverage new technologies and thinking to address the macro drivers shaping the insurance industry.”

Stone & Chalk’s CEO Alex Scandurra said he is encouraged to see an increasing number of organisations recognise the opportunities that working with startups can bring when done properly. “The way in which we are bringing our corporate partners and startups together isn't about innovation theatre; it’s about solving real business problems and commercialising opportunities for both parties. This first pilot with DXC is proving that by smartly combining the best of both worlds, teams can get new propositions to market faster, cheaper and better than they ever could separately.”

In addition to launching SpringBoard, DXC was recently announced as a founding partner with Insurtech Australia, an industry association designed to support insurance industry startups and innovators. DXC joined the likes of AUB Group, EY, Macquarie Bank, Munich Re, DLA Piper, Stone & Chalk, TAS and QBE as founding partners committed to shaping the Australian insurance industry.

“We are confident that initiatives such as DXC SpringBoard and our partnership with Insurtech Australia will help accelerate positive change and growth across the industry,” Nayagam said.

About DXC Technology

DXC Technology (DXC: NYSE) is the world’s leading independent, end-to-end IT services company, helping clients harness the power of innovation to thrive on change. Created by the merger of CSC and the Enterprise Services business of Hewlett Packard Enterprise, DXC Technology serves nearly 6,000 private and public sector clients across 70 countries. The company’s technology independence, global talent and extensive partner network combine to deliver powerful next-generation IT services and solutions. DXC Technology is recognized among the best corporate citizens globally. For more information, visit www.dxc.technology.

About Insurtech Australia

Insurtech Australia is a national, not-for-profit organisation, run for the benefit of its members and partners across all corners of Australia. Insurtech Australia is a division of FinTech Australia and supports and grows the Australian Insurtech community, including Insurtech startups, insurers, hubs, accelerators and investors. Insurtech Australia aspires to make Australia one of the world’s leading markets for Insurtech and insurance innovation by collaborating with insurers, startups, regulators and investors to create the best possible regulatory environment, and by fostering an ecosystem of supportive partners and networks so Insurtech can thrive and grow in Australia. For more information, visit www.insurtechaustralia.org.

About Stone & Chalk

Since its launch in August 2015, Stone & Chalk has helped create a formidable fintech community across New South Wales and Victoria and has become recognised as one of the top fintech hubs globally. Stone & Chalk has 24 Australian and international corporate partners, houses over 100 full time startups, 352 residents, with 13 of these now exporting. Together with its 32 alumni, Stone & Chalk start-ups and scale-ups have secured over AU$211M of direct equity investment, and have created 500 direct new jobs in the areas of fintech, cyber security, insurtech, data science and connected devices. Stone & Chalk has established resident and corporate innovation programs, inclusive of investor programs, pitch training, mentorship and training. For more information, visit www.stoneandchalk.com.au.